Adidas raises profit forecast after record sales

Sportswear manufacturer Adidas has become more optimistic for the year following surprisingly strong summer trading.

Adidas raises forecast

Operating profit is now expected to reach around two billion euros, instead of 1.7 to 1.8 billion euros, as the Dax-listed company announced in Herzogenaurach. Adidas cited better-than-expected business and successful measures to mitigate the additional costs from US tariffs.

In the third quarter, currency-adjusted sales grew by 8 percent to over 6.6 billion euros. The 2024 figures still included sales from the discontinued Yeezy brand by controversial rapper Kanye West. The Adidas brand itself saw an increase of 12 percent.

Adidas chief: highest sales in a quarter

Chief executive officer Bjørn Gulden spoke of record sales. “This is the highest revenue we as a company have ever achieved in a quarter.”

Operating profit increased from 598 million to 736 million euros. Adidas plans to release the final quarterly figures as scheduled on October 29.

For the full year, Adidas now expects a currency-adjusted sales increase of 9 percent. Previously, management had forecast a rise in the high single-digit percentage range.

The news was well-received on the stock market. In after-hours trading on the Tradegate platform, the Adidas share price rose by almost two percent compared to the Xetra closing price.

This article was translated to English using an AI tool.

OR CONTINUE WITH

Adidas

Adidas AG